What is Santos FC Fan Token (SANTOS)?

The Santos FC Fan Token, built on the BEP-20 utility token framework, aims to transform the fan engagement experience for supporters of Santos FC. This marks Binance's debut Binance Fan Token launch in the Latin America (LATAM) market and serves as the pioneering Binance Fan Token Launchpool project in this region.

This token provides Santos FC enthusiasts the ability to engage in team voting polls, explore digital collectibles, acquire NFTs, and indulge in gamified features linked to fan rewards and enriching experiences.

Its primary objective is to redefine the dynamic between Santos FC and its fan base by introducing crypto-enabled solutions for engagement and governance via the Binance Fan Token Platform.

Moreover, Binance Fan Tokens offers Santos FC fans innovative ways to connect and evolve alongside their beloved team. The club can integrate this utility token into its ecosystem, facilitating activities such as voting, donations, e-commerce, NFT purchases, and more.

What exactly are SANTOS Fan Tokens?

The maximum and overall token supply of SANTOS is capped at 30,000,000. Upon listing, the circulating supply will stand at 4,550,000 tokens (representing 15.17% of the total token supply).

SANTOS Fan Tokens are native BEP-20 tokens deployed on the BNB Smart Chain (previously known as BSC). Consequently, these tokens can interface with other BSC-based decentralized exchanges (DEXs) and decentralized applications (dApps). Being a BEP-20 token, SANTOS offers users the advantage of low transaction fees and three-second block times.

Unlike NFTs, all Binance Fan tokens, including SANTOS, are fungible, implying they can be traded for merchandise and experiences of equivalent value. However, SANTOS also allows for exchange into exclusive NFTs.

Who are the founders of SANTOS Fan Token?

The SANTOS token was introduced through a collaboration between Santos FC and Binance, arriving during a period when numerous sports organizations continue to grapple with the financial aftermath of the coronavirus pandemic. 

The mandated halt to in-person events during this period may have prompted clubs like Santos FC to seek alternative avenues for generating revenue, hence the introduction of $SANTOS.

Understanding the potential longevity of this presence in sports enthusiasts' circles requires examining why cryptocurrency projects create tokens. Tokenization, which involves representing an asset using a cryptocurrency, has demonstrated its effectiveness as a means for projects to acquire funding. Santos FC follows a similar path in this regard.

What is the working mechanism of SANTOS Fan Token?

The primary objective of the SANTOS FC Fan Token aligns with the purpose of numerous other sports fan tokens, aiming to grant its holders governance authority. Holders of SANTOS tokens have the opportunity to participate in decision-making processes, such as voting on team kit colors, and can also enjoy perks like receiving fan badges.

The Santos FC Fan Token operates as an inherent BEP-20 token deployed on the Binance Smart Chain (BSC). This initiative enhances accessibility for Santos FC enthusiasts to the club's tokens and enables them to utilize these tokens for diverse functionalities at minimal transaction costs.

What functionalities do SANTOS FC Fan Token tokens offer?

SANTOS serves as the official Binance Fan Token for Santos FC and serves various purposes:

• Engagement: SANTOS token holders possess the privilege to partake in fan engagement-oriented voting sessions via the Binance Fan Token platform.

• Loyalty Subscription (PowerStation): Holders of SANTOS tokens can dedicate their Santos FC NFTs for fan rewards, digital collectibles, fan power points, and more.

• E-commerce: SANTOS tokens can integrate into Santos FC's e-commerce framework, enabling purchases of merchandise, matchday tickets, memberships, and more via Binance Pay.

• Benefits: SANTOS token holders gain exclusive benefits by engaging with Santos FC on the Binance Fan Token Platform, such as signed merchandise and opportunities for meet-and-greet sessions with Santos FC players and legends, among other experiences.

• Gamification: SANTOS token holders receive access to various gamification features offered on the Binance Fan Token Platform.

• Donation: Holders of SANTOS tokens will have the capability to donate directly to their cherished team and earn a proof-of-loyalty badge as recognition for their contribution.